312-314 W South St 5 Unit Apartment Building $850,000 ($170,000/Unit) 7% Cap Rate Frederick, MD 21701
INVESTMENT HIGHLIGHTS
- 312 ½ & 314 W South Street presents a five-unit apartment building with updated appliances, modern finishes, and hardwood floors throughout.
- 2025's gross cashflow is projected to be $74,760 and taxes of $8,617 (combined) annually.
- In the heart of Downtown Frederick, Maryland, part of the Carrollton neighborhood with a large sense of a close-knit community.
- Electric and gas utilities are separately metered, paid by tenants and the landlord currently pays the water bill.
EXECUTIVE SUMMARY
Act quick to take advantage of a limited offer. 312 ½ & 314 W South Street presents an investor's chance to own a five-unit apartment building in the heart of Downtown Frederick. The property offers onsite parking and a short walk to Downtown Frederick’s arts and entertainment district. The property boasts easy access to major arterial roadways like Interstates 70 and 270, and State Routes 355, 15, and 340.
The Seller’s have owned the property for 10 years and have experienced no vacancy outside of the short period of tenant turnover. Upgrades to the building and units have been made over the years as well.
The location is also within walking distance of the future 77-acre mixed-use development known as the Brickworks property. This development will bring high-end retailers, such as an organic grocery store and neighborhood-oriented shops and services.
Inquire today for lease details and property disclosures.
The Seller’s have owned the property for 10 years and have experienced no vacancy outside of the short period of tenant turnover. Upgrades to the building and units have been made over the years as well.
The location is also within walking distance of the future 77-acre mixed-use development known as the Brickworks property. This development will bring high-end retailers, such as an organic grocery store and neighborhood-oriented shops and services.
Inquire today for lease details and property disclosures.
PROPERTY FACTS Under Contract
| Price | $850,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 2,830 SF |
| No. Stories | 2 |
| Year Built | 1860 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
1 of 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 02-037157 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $181,800 |
ZONING
| Zoning Code | DR (Downtown Residential) |
